RYCQX vs. RMQAX

Last updated Aug 5, 2026

RYCQX (Rydex Inverse Russell 2000 Strategy Fund) and RMQAX (Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund) are both mutual funds - RYCQX is a Inverse Equities fund managed by Rydex Funds, while RMQAX is a Leveraged Equities fund managed by Rydex Funds. Over the past 10 years, RYCQX returned -12.09%/yr vs 34.13%/yr for RMQAX. Their -0.70 correlation means they have often moved in opposite directions in the past. RYCQX charges 2.49%/yr vs 1.32%/yr for RMQAX.

Performance

RYCQX vs. RMQAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Inverse Russell 2000 Strategy Fund (RYCQX) and Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYCQX achieves a -15.69% return, which is significantly lower than RMQAX's 21.85% return. Over the past 10 years, RYCQX has underperformed RMQAX with an annualized return of -12.09%, while RMQAX has yielded a comparatively higher 34.13% annualized return.

RYCQX

• 1D: -1.70%
• 1M: 0.90%
• 6M: -10.47%
• YTD: -15.69%
• 1Y: -23.76%
• 3Y*: -11.12%
• 5Y*: -6.68%
• 10Y*: -12.09%
• ALL TIME*: -12.65%

RMQAX

• 1D: 3.52%
• 1M: -4.48%
• 6M: 21.62%
• YTD: 21.85%
• 1Y: 40.94%
• 3Y*: 40.41%
• 5Y*: 18.71%
• 10Y*: 34.13%
• ALL TIME*: 31.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	$0.00	$0.00	$0.00
RYCQX Rydex Inverse Russell 2000 Strategy Fund	$0.00	$0.00	$0.00

RYCQX vs. RMQAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYCQX Rydex Inverse Russell 2000 Strategy Fund	-15.69%	-9.40%	-6.15%	-10.73%	16.50%	-18.59%	-31.59%	-20.84%	10.41%	-14.20%
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	21.85%	33.92%	44.76%	115.91%	-59.93%	56.36%	101.06%	80.80%	-7.28%	69.80%

Correlation

The correlation between RYCQX and RMQAX is -0.71, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.71
Correlation (3Y) Balances recent behavior with more history.	-0.66
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.73
Correlation (10Y) Provides a long-term view across more market conditions.	-0.68
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	-0.70

The correlation between RYCQX and RMQAX has been stable across timeframes, ranging from -0.73 to -0.66 - a consistent structural relationship.

Return for Risk

RYCQX vs. RMQAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RYCQX

RYCQX Risk / Return Rank: 0
RYCQX Sharpe Ratio Rank: 0
RYCQX Sortino Ratio Rank: 0
RYCQX Omega Ratio Rank: 0
RYCQX Calmar Ratio Rank: 0
RYCQX Martin Ratio Rank: 0

RMQAX

RMQAX Risk / Return Rank: 35
RMQAX Sharpe Ratio Rank: 33
RMQAX Sortino Ratio Rank: 32
RMQAX Omega Ratio Rank: 32
RMQAX Calmar Ratio Rank: 42
RMQAX Martin Ratio Rank: 36

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RYCQX vs. RMQAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse Russell 2000 Strategy Fund (RYCQX) and Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	RYCQX	RMQAX	Difference
Sharpe ratio: Return per unit of total volatility	-1.32	1.19	-2.51
Sortino ratio: Return per unit of downside risk	-1.87	1.70	-3.57
Omega ratio: Gain probability vs. loss probability	0.79	1.21	-0.42
Calmar ratio: Return relative to maximum drawdown	-1.01	1.86	-2.87
Martin ratio: Return relative to average drawdown	-1.69	5.70	-7.39

RYCQX vs. RMQAX - Sharpe Ratio Comparison

The current RYCQX Sharpe Ratio is -1.32, which is lower than the RMQAX Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of RYCQX and RMQAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RYCQX vs. RMQAX - Drawdown Comparison

The maximum RYCQX drawdown since its inception was -96.16%, which is greater than RMQAX's maximum drawdown of -63.18%. Use the drawdown chart below to compare losses from any high point for RYCQX and RMQAX.

Drawdown Indicators

	RYCQX	RMQAX	Difference
Max Drawdown Largest peak-to-trough decline	-96.16%	-63.18%	-32.98%
Max Drawdown (1Y) Largest decline over 1 year	-25.18%	-24.96%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-42.85%	-42.45%	-0.40%
Max Drawdown (5Y) Largest decline over 5 years	-42.88%	-63.18%	+20.30%
Max Drawdown (10Y) Largest decline over 10 years	-74.27%	-63.18%	-11.09%
Current Drawdown Current decline from peak	-96.09%	-13.05%	-83.04%
Average Drawdown Average peak-to-trough decline	-70.72%	-12.85%	-57.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.60%	8.14%	+8.46%

Volatility

RYCQX vs. RMQAX - Volatility Comparison

The current volatility for Rydex Inverse Russell 2000 Strategy Fund (RYCQX) is 4.20%, while Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX) has a volatility of 14.70%. This indicates that RYCQX experiences smaller price fluctuations and is considered to be less risky than RMQAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYCQX	RMQAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	14.70%	-10.50%
Volatility (6M) Calculated over the trailing 6-month period	14.08%	32.62%	-18.54%
Volatility (1Y) Calculated over the trailing 1-year period	19.29%	39.23%	-19.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.40%	47.26%	-23.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.83%	46.85%	-23.02%

RYCQX vs. RMQAX - Expense Ratio Comparison

RYCQX has a 2.49% expense ratio, which is higher than RMQAX's 1.32% expense ratio.

Dividends

RYCQX vs. RMQAX - Dividend Comparison

RYCQX's dividend yield for the trailing twelve months is around 9.33%, less than RMQAX's 29.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	29.77%	36.27%	26.02%	3.76%	0.00%	2.18%	5.30%	0.10%
RYCQX Rydex Inverse Russell 2000 Strategy Fund	9.33%	7.87%	7.14%	9.87%	0.00%	0.00%	0.08%	0.86%

Frequently Asked Questions

Can I hold both RYCQX and RMQAX in my portfolio?

RYCQX and RMQAX have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYCQX or RMQAX?

RMQAX has higher volatility (14.70%) compared to RYCQX (4.20%). In terms of maximum drawdown, RYCQX dropped -96.16% vs RMQAX's -63.18%.

Which has better risk-adjusted returns?

RMQAX currently has the higher Sharpe Ratio (1.19 vs -1.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.